Is SSI considered taxable income?

Answer Whether or not Social Security Income (SSI) is taxable depends on marital status and total income; as of 2009, Social Security benefits were taxable for married couples making $32,000 or more and s... Read More »

Top Q&A For: Is SSI considered taxable income

Are scholarships considered taxable income?

Scholarships can be considered taxable income if you are not seeking a degree from the college where you applied for the scholarship. If you are a degree candidate, your scholarship is tax free if ... Read More »

Are garnished wages under tax levy considered taxable income?

Garnished wages are earnings withheld by an employer for the payment of a debt. These are considered a commercial obligation and do not affect taxable income, so cannot be deducted from income by t... Read More »

Are life insurance benefits considered taxable income?

Life insurance benefits are considered by the Internal Revenue Service to be taxable income under certain circumstances. The amount subject to income taxation varies depending on how the benefit is... Read More »

Are your personal injury lawsuit winnings considered taxable income?

On One Hand: Winnings for Physical Injury are Not TaxableWinnings from a personal injury lawsuit aren't taxable if they cover treatment for a physical injury or sickness. In addition, awards for em... Read More »